Stock chart patterns and technical analysis (TA) explained simply. Disclaimer: This blog and all its contents are for educational and entertainment purposes only. Do not trade or invest based on any information seen on this blog. Please read Terms of Service. VIEW IN GOOGLE CHROME BROWSER. DISABLE YOUR ADBLOCK SOFTWARE.

Friday, November 7, 2014

It is interesting to see the 2-hour chart not yet squeeze the strong move out due to the tight bands (pink arrows). The bands are starting to expand out so something important should occur with price now, any minute. The overbot stochastics, rising wedge and negative divergence (red lines) across all indicators says down and perhaps sharp down if the tight band move kicks in. We should be exactly at the near-term top right now.The one-week of four binary events including BOJ QE, US mid-term elections, ECB decision and Monthly Jobs Report are over and all resulted in bullish thrusts 4 for 4. The expectation forward for the near-term for the SPX is down; the neggie d should create a smack down. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.Note Added 6:17 PM: The SPX teased a little bit lower but the bears have no traction as yet. Same analysis holds and will continue at Monday's opening bell. Perhaps the bulls maintained the elevated price waiting to see if any positive news occurs over the weekend to create more life. VIX is 13.12 remaining under 14.10 causing bullishness. JJC is 36.68 under the 37.08 level causing bearishness. Neither parameter would flinch, so as per the Keybot the Quant algorithm, equities should move sideways, which they do. Volatility and copper will pick up where they left off for Monday. It is odd in the chart above that a sharp move did not occur due to the squeeze of the standard deviation bands. Perhaps a surprise is in store for Monday morning; big up or down. The tanks are not moving into Eastern Ukraine to throw a garden party. The ruble currency is in collapse. Spain Catalonia independence vote this weekend. 25th Anniversary of the Fall of the Berlin Wall.

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Do not invest based on anything you view or read on this blog. This blog is for educational and entertainment purposes only. Consult your financial advisor before making any investment decision. Please read the Terms and Conditions.